Most investors aren't familiar with the nuances of billboard sales, and as a result, often leave significant money on the table. Unlike other asset classes, billboards follow a unique process for selling effectively—one that can dramatically boost your final sale amount.
Avoid Naming Your Price
Contrary to standard sales practice, you shouldn't assign an initial price to your billboard. While it seems unusual to avoid setting an asking price, billboard values vary considerably based on the potential rental income a buyer anticipates. Since large companies lease billboard space at significantly different rates, establishing a fixed asking price limits your potential upside. Instead, provide buyers with comprehensive details—location specifics, terms of the ground lease, and clear photographs—but let them propose the number first.
Encourage Competitive Bidding
Inform every billboard company operating in your region that your asset is on the market. The broader your outreach, the higher your chances of securing the best possible price. Don't prejudge potential buyers—larger companies aren't always the most aggressive. Smaller, growing billboard operators may surprise you with unexpectedly competitive offers. A broad market ensures genuine competition.
Let the Buyers Establish Value
When potential buyers inquire about pricing, shift the responsibility back to them. Simply inform them you're open to offers and looking for the best possible deal. By encouraging buyers to set the initial benchmarks, you'll find a range of offers—from disappointingly low to surprisingly generous. The highest offers usually reflect the true market value, often surpassing your initial expectations.
Finalize with Competitive Negotiations
Once you've collected several offers, identify the top three. Engage each of these bidders individually, suggesting you have competing offers above theirs and invite them to submit their best revised proposals. You don't need to disclose exact figures—in negotiations like these, strategic bluffing is common. Most serious bidders assume competition is genuine and respond by increasing their bids to secure the deal.
Conclusion
Maximizing your billboard sale value isn't about setting initial prices—it's about strategic positioning and carefully managing competition. This proven approach consistently delivers optimal returns, as my own experiences selling billboard assets clearly demonstrate.